Gold futures closed maximum in the
domestic market on Tuesday as the dollar exhausted and stock markets slipped, with covers over
tension between Russia and the West also helping push the metal through key chart levels.
Safe-haven desired influenced after Greek Prime Minister Antonis Samaras said that he
will recommend parliamentary elections are claspon January 25, almost 18 months before his
coalition's term was due to end.
A Weaker dollar increased the appeal of the bullion as
an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other
currencies, thus increasing desired. Gold futures may increase today as a dip in equities uplift
desired for the yellow metal as an alternative asset. MCX, Gold
futures for February 2015 contract ended at Rs 27,049 per 10 gram,
upward by 1.06 per cent after opening at Rs 26,845,
against the last day of ending price of Rs 26,764. It touched the intra-day max of Rs 27,220 till the
ending.
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